Neuberger Berman Fund Buys Piece Of MKP

Jan 9 2013 | 12:29pm ET

Neuberger Berman Group's private equity fund of hedge fund managers has made its third investment in less than a month.

Dyal Capital Partners, which closed in December with $1.28 billion in commitments, has bought a minority stake in MKP Capital Management. The deal follows similar agreements with Pinnacle Asset Management last month and Scopia Fund Management earlier this month.

Terms of the agreement with MKP, which has $6.8 billion in assets under management, were not disclosed. As with its other partners, Dyal will be a passive investor and MKP's leadership and investment processes will remain unchanged. MKP will invest the proceeds from the stake sale in its funds.

New York-based MKP, which focuses on global macro, structured credit and relative value strategies, is the fifth hedge fund manager in Dyal's stable. Neuberger Berman set up the fund in 2010 to acquire stakes in established hedge fund managers; it said when it closed the fund in December that it expected to finalize several deals within a few months and that it eventually plans to invest in between 12 and 15 managers.

Prior to its recent buying spree, Dyal had taken minority stakes in Paris-based Capital Fund Management last December and Mast Capital Management in July.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note